Arena Hospitality Group has announced new long term financing for the acquisition of Franz ferdinand Mountain Resort in Nassfeld Austria, in the amount of EUR 10.5m
According to the statement that was released yesterday by the Company, the Group has entered into a long-term financing agreement with Erste Bank, through its local subsidiary Arena FRANZ ferdinand GmbH. The loan is due in 2033 and carries a fixed interest rate.
As a reminder, the acquisition was already announced back in September, for a 4-star hotel in Nassfeld, Austria at a consideration of HRK 112m, implying HRK 778k per room.
The above-mentioned mountain resort is located next to the valley station of the Nassfeld Ski Resort in Carinthia, which provides access to the area’s 110km of slopes. The hotel offers 144 family rooms, a restaurant, bar, conference rooms, private car park, wellness and sauna and children facilities.
As of the end of October 2021, NAV of Croatian Mandatory Pension funds amounted to HRK 130.5bn, representing a +12.7% increase YoY
With the pension funds being such a key player on the Croatian capital market, it is worth seeing how well they performed in the recent period.
NAV of Croatian pension funds have experienced a steady increase of the 19th consecutive month, and as of the end of October stood at HRK 130.5bn (+12.7% YoY or HRK 14.7bn). At the same time, on a YTD basis, NAV is up by 9.6%, while on a MoM basis, NAV of mandatory pension funds is up by 1.1%. We would also like to note that the net contributions in October amounted to HRK 638.9m, reaching a total of HRK 6.1bn YTD.
AUM Structure – Mandatory Pension Funds (January 2018 – October 2021), HRK bn
Source: HANFA, InterCapital Research
Looking at the asset composition of the pension funds, bonds account for the vast majority of assets (62.5%), which as of the end of October amounted to HRK 82.2bn. This also means that the bond holdings observed a MoM decrease of -0.9% (or HRK 751.6m)
Current AUM Structure – Mandatory Pension Funds (October 2021), %
Source: HANFA, InterCapital Research
Shares come next, with 20.6% or HRK 27bn, representing an increase of 2.5% MoM (or HRK 664.8m). The mentioned increase came from both the foreign equity (+4.2% MoM or HRK 475.6m) as well as domestic equity (+1.3% MoM or HRK 181m). Note that domestic equity accounts for 56.1% of total equity holdings. On the other hand, in the bond market, the domestic bonds hold a vast majority with 94.6%.